Mr. David Scandiffio reports
CIBC ASSET MANAGEMENT INC. ANNOUNCES THAT THE CIBC EMERGING MARKETS LOCAL CURRENCY BOND FUND IS NOW AVAILABLE FOR PURCHASE
The CIBC Emerging Markets Local Currency Bond Fund, managed by Canadian Imperial Bank of Commerce Asset Management Inc., is now available for investors to purchase. This solution is an actively managed emerging market debt and currency fund. This fund can complement a core bond portfolio by aiming to provide additional yield, the potential for long-term capital appreciation, as well as attractive diversification benefits which reflect the low historical correlations of emerging market debt with many traditional asset classes.
"As inflation and rising interest rates continue to impact global markets, many investors are looking to further diversify their portfolios to include a strategic allocation to emerging market debt," said David Scandiffio, president and chief executive officer, CIBC Asset Management. "The CIBC Emerging Markets Local Currency Bond Fund is a valuable addition to a well-constructed portfolio. It seeks to provide investors with access to primarily sovereign fixed-income securities of emerging market countries, denominated in local currency, that offer the potential for income and long-term capital appreciation."
About Canadian Imperial Bank of Commerce
CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across personal and business banking, commercial banking and wealth management, and capital markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.
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